Chain Bridge Bancorp, Inc. (NYSE:CBNA) Sees Significant Drop in Short Interest

Chain Bridge Bancorp, Inc. (NYSE:CBNA) was the recipient of a significant decline in short interest in January. As of January 15th, there was short interest totaling 19,229 shares, a decline of 13.3% from the December 31st total of 22,167 shares. Based on an average daily trading volume, of 5,623 shares, the days-to-cover ratio is currently 3.4 days. Approximately 0.4% of the company’s stock are sold short. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 5,623 shares, the days-to-cover ratio is currently 3.4 days.

Chain Bridge Bancorp Stock Down 1.7%

CBNA traded down $0.62 during trading on Tuesday, hitting $36.42. The company’s stock had a trading volume of 4,765 shares, compared to its average volume of 4,665. The firm has a market capitalization of $238.92 million, a P/E ratio of 11.83 and a beta of 0.47. Chain Bridge Bancorp has a twelve month low of $20.01 and a twelve month high of $38.42. The stock’s fifty day moving average price is $34.20 and its 200-day moving average price is $31.36.

Chain Bridge Bancorp (NYSE:CBNA) last issued its earnings results on Wednesday, January 28th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.02. Chain Bridge Bancorp had a net margin of 34.11% and a return on equity of 12.88%. The business had revenue of $14.70 million for the quarter, compared to analyst estimates of $13.66 million. Equities research analysts expect that Chain Bridge Bancorp will post 2.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Zacks Research raised Chain Bridge Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 28th. Raymond James Financial cut Chain Bridge Bancorp from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chain Bridge Bancorp in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $33.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CBNA. Hingham Institution for Savings bought a new position in Chain Bridge Bancorp in the 4th quarter valued at about $10,169,000. Royce & Associates LP grew its holdings in Chain Bridge Bancorp by 80.4% during the third quarter. Royce & Associates LP now owns 245,721 shares of the company’s stock worth $8,042,000 after buying an additional 109,495 shares in the last quarter. Gator Capital Management LLC raised its holdings in shares of Chain Bridge Bancorp by 0.8% in the third quarter. Gator Capital Management LLC now owns 204,110 shares of the company’s stock valued at $6,681,000 after purchasing an additional 1,610 shares during the last quarter. Vanguard Group Inc. boosted its position in Chain Bridge Bancorp by 4.2% in the third quarter. Vanguard Group Inc. now owns 112,494 shares of the company’s stock worth $3,682,000 after purchasing an additional 4,484 shares during the last quarter. Finally, Cannell Capital LLC raised its holdings in shares of Chain Bridge Bancorp by 239.5% in the 3rd quarter. Cannell Capital LLC now owns 61,609 shares of the company’s stock worth $2,016,000 after purchasing an additional 43,464 shares during the period.

Chain Bridge Bancorp Company Profile

Chain Bridge Bancorp, Inc (NYSE: CBNA) is the bank holding company for Chain Bridge Bank, a full-service community commercial bank headquartered in Oakton, Virginia. Founded in 1999, the company is focused on serving small- and middle-market businesses, professional firms and individual clients throughout the Washington, DC metropolitan area.

Through its subsidiary, Chain Bridge Bank provides a comprehensive suite of deposit products, including checking, savings and money market accounts, as well as time deposits.